US oil prices have already spiked from about $65 to around $100 since the start of the war in the Middle East. While $200 oil sounds extreme, analysts say it reflects the scale of the supply disruption and pointed to the fact that Dubai oil prices recently topped $166 a barrel. “No one knows exactly what level that is, but I think high $100s or even over $200 is reasonable, unfortunately.”Epic supply disruptionThe clock is ticking to solve the biggest oil supply disruption in history. Bank of America estimates that an “extended” supply loss would likely drive oil prices above $150 a barrel this quarter. Even just a US exit from the conflict would likely cause at least a short-term drop in oil prices, analysts say.

Source: CNN April 02, 2026 10:27 UTC